New York Markets After Hours

Under Armour Q3 net up 25%, stronger than estimate

RobertDaniel

TEL AVIV (MarketWatch) -- Under Armour Inc.,
UA, -1.62%
the Baltimore apparel-and-footwear producer, reported third-quarter net income rose 25% on 24% higher revenue. Earnings reached $57.3 million, or 54 cents a share, from $46 million, or 44 cents, in the year-earlier quarter. Revenue rose to $575.2 million from $465.5 million. A survey of analysts by FactSet Research produced consensus estimates of 52 cents a share of profit on $575.3 million of revenue. Gross-profit margin widened in the quarter to 48.7% from 48.4% as North American margins grew. The company sharpened its revenue estimate for the year, pegging the figure at $1.82 billion, up 24% from 2011. That's the high end of its previous estimated range of $1.8 billion to $1.82 billion.

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